The last decade has been a whirlwind of innovation in the fintech industry, transforming the way we manage money, blending finance and technology into a seamless experience.
From mobile banking apps to blockchain and cryptocurrency, Fintech is at the forefront of innovation, driving change at a breathtaking pace. Giants like Mastercard, Visa and PayPal are leading the charge, introducing new solutions that make financial transactions faster, more secure, and more accessible than ever.
Recent breakthroughs include AI-driven financial advisory services, biometric authentication for enhanced security, and decentralized finance (DeFi) platforms that are democratizing access to financial services.
This article delves into the patent landscape of the fintech industry, revealing the top companies, groundbreaking inventors, technology overview and research centers driving these advancements.
This analysis is based on published US patent data from 2007-2018. Interested in the updated analysis?
What is the patent filing trend in Fintech?
The increase in patent filings may be due to various reasons including increased competition and technological advancements. Major companies like PayPal, Google and Microsoft were marking an entrance in the fintech domain during the years 2005 to 2007 which would have caused upsurge in patent filings during this time frame.
In the year 2011, Bitcoin was rapidly emerging cryptocurrency which sparked interest in fintech innovations and applications based on blockchain technology thereby leading to increased patent filings.
The table below provides the number of applications filed and the number of patents granted from the year 2008 to 2018.
| Year | Applications Filed in Fintech Industry | Patents Granted in Fintech Industry |
| 2018 | 35 | 2760 |
| 2017 | 1012 | 2605 |
| 2016 | 3102 | 1730 |
| 2015 | 3809 | 1725 |
| 2014 | 4439 | 2830 |
| 2013 | 4380 | 2757 |
| 2012 | 4082 | 2025 |
| 2011 | 3698 | 1325 |
| 2010 | 3254 | 618 |
| 2009 | 3052 | 164 |
| 2008 | 3770 | 51 |
Technology Overview of Fintech Patents
The technology analysis of patents related to fintech industry explores the diverse and evolving nature of innovations within the sector.
The patents have been classified into distinct technological categories such as Capital Markets and Investing, Insurance and Cryptocurrency with each representing key areas of innovation while serving as blueprints for technological progress in the domain showcasing continuous innovation which drives the evolution of fintech solutions thereby, shaping the future of finance.
Evolution of Fintech Technology: 2003-2018
The chart below showcases the technology through the years 2003 to 2018 for the Fintech Industry
Key companies filing patents in Fintech
The chart below showcases the leading 15 companies actively involved in research and development in fintech industry.
Technology Overview
This analysis provides an insight into areas of focus and innovations of companies thereby offering comprehensive snapshot of their contributions to the dynamic landscape of fintech sector.
The technology overview reveals a focus on diverse areas such as Electronic/ Mobile Payments, Banking and Corporate Finance and Cryptocurrency.
The table below shows the number of patents assigned to the leading 25 companies involved in the Fintech industry.
| Leading Companies | Patents |
| Bank Of America | 1701 |
| Mastercard | 1695 |
| IBM | 1369 |
| Visa | 796 |
| Microsoft | 542 |
| Paypal | 424 |
| Ebay | 408 |
| NCR | 399 |
| Intuit | 369 |
| Samsung | 348 |
| American Express | 331 |
| 326 | |
| Toshiba | 313 |
| Hartford Financial Services | 306 |
| Amazon | 295 |
| Chase Bank | 289 |
| United Services Automobile Association | 285 |
| Capital One | 265 |
| At&T | 262 |
| WalMart | 254 |
| SAP Software | 244 |
| First Data Corp | 233 |
| Square | 229 |
| Oracle | 223 |
| Sony | 212 |
Who are the leading innovators in Fintech?
The table below shows the number of patents assigned to the top 25 inventors involved in innovations and technological advancements in the fintech industry.
| Inventor Name | Patents |
| Calman Matthew | 151 |
| Grigg David | 134 |
| Hanson Carrie Anne | 133 |
| Hammad Ayman | 108 |
| Blackhurst Jason | 94 |
| Debashis Ghosh | 92 |
| Dintenfass Katherine | 91 |
| Bondesen Laura | 89 |
| Carlson Mark | 81 |
| Ross Erik Stephen | 79 |
| Faith Patrick | 74 |
| Joa David | 71 |
| Lutnick Howard | 63 |
| Votaw Elizabeth | 62 |
| Walker Jay | 61 |
| Labuszewski John | 59 |
| Hyde Roderick | 56 |
| Chan Paul Mon Wah | 54 |
| Kurian Manu | 53 |
| Phillips Simon | 52 |
| Wood Jr Lowell L | 51 |
| Hamilton II Rick A | 51 |
| Marcar Anthony Emile | 45 |
| Lee John Jong Suk | 45 |
| Gerard Jean Pierre | 45 |
Where are Research Centers of Fintech patents located?
The chart below represents the major research and development centres contributing towards innovations and technological advancements in the fintech industry.
Leading companies in USA filing patents in Fintech
The chart below depicts the distribution of patents owned by the 15 leading companies within United States of America involved in the Fintech industry.
Bank of America (1700) is the prominent company with highest number of patents signifying its contributions in the fintech industry. Mastercard (1340) and IBM (1229) closely follow Bank of America in the number of patents owned by the company.
Technology Overview
The categorizations ranging from Financial Security, Insurance and Personal Finance Management offers a comprehensive overview of United States of America’s contributions towards the fintech sector.
Leading companies in Japan filing patents in Fintech
The chart below depicts the distribution of patents owned by the 15 leading companies within Japan involved in the fintech industry.
Toshiba (228) is the prominent company with highest number of patents signifying its contributions in fintech industry. Sony (106) and NEC (105) closely follow Toshiba in the number of patents owned by the company.
Technology Overview
The categorizations ranging from Financial Security, Lending/Financing and Crowdfunding and Capital Markets and Investing offers a comprehensive overview of Japan’s contributions in the fintech sector.
Leading companies in South Korea filing patents in Fintech
The chart below depicts the distribution of patents owned by the 15 leading companies within South Korea involved in the fintech industry.
Samsung (257) is the prominent company with highest number of patents signifying its contributions in the fintech industry. LG (99)and Sk Planet (76) follow Samsung in number of patents owned by the company.
Technology Overview
The categorizations ranging from Cryptocurrency, Banking & Corporate Finance and Insurance offers a comprehensive overview of South Korea’s contributions in the fintech sector.
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